Core Insights - The global laptop panel market is experiencing a stable supply-demand balance due to demand slowdown and capacity adjustments [1] Demand Side - In North America, the approaching end of the tariff exemption window has weakened the procurement momentum of major brands, leading to a shift in purchasing strategies towards inventory control [1] - In the domestic market, the marginal effect of the "national subsidy" policy is diminishing, and with the end of the "618" promotional stocking period, the procurement demand for panels from domestic brands is expected to shrink on a month-on-month basis [1] Supply Side - Panel manufacturers are adjusting capacity in response to demand fluctuations, despite some capacity being shifted towards IT panels due to reduced TV demand [1] - Driven by profitability concerns, panel manufacturers are actively managing capacity [1] - With the gradual mass production of new TED models, mainstream panel prices are expected to face downward pressure [1]